Atletico Madrid owners in talks with Apollo over sale of controlling interest reports suggest

Owners of Atletico Madrid are holding advanced discussions to offload a controlling interest in the Spanish football club to the American private equity group Apollo Global Management various reports indicate based on sources familiar with the matter.

Asked for comment by AFP both the US company and Atletico Madrid chose not to verify the information.

"Achieving strong performance and satisfying supporters requires ongoing substantial investments in squad members and facilities" Atletico Madrid CEO Miguel Angel Gil Marin stated during a Tuesday sports business gathering partly organised by Expansion.

"Such funding must originate externally at this stage we welcome potential new partners joining the ownership structure."

Spanish publication Expansion reports that Apollo aims to acquire shares from the existing quartet of stakeholders.

The present owners consist of Gil Marin club president Enrique Cerezo Ares Management and Quantum Pacific.

Through Holdco CEO Gil Marin controls the largest portion at 70.39 percent of Atletico Madrid while Quantum Pacific a UK entity founded by Israeli billionaire Idan Ofer possesses 27.81 percent.

Inside Holdco Gil Marin commands 50.82 percent Ares Management holds 33.96 percent and Cerezo accounts for 15.22 percent.

Expansion notes that Apollo places a 2.5 billion euro valuation roughly 2.9 billion dollars on Atletico Madrid.

Traded on the New York Stock Exchange with over 800 billion dollars under management Apollo reportedly plans to structure the transaction via a 5 billion dollar fund focused on sports investments.

Atletico Madrid champions of La Liga in 2021 have faced challenges early this campaign sitting 12th in the standings.